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Cash Is King

Oct 15, 2008 | 0 comments

Being able to put in an all cash offer has always helped deals get done more quickly and made possible a greater chance of successful negotiations for buyers. Today, this is more true than at any other time in recent history, and cash buyers are very aware of their position of strength.

In the past week, I have gotten an accepted offer while dictating the terms of the agreement for one of my all cash buyers while another all cash buyer is patiently waiting to see which sellers will be most inclined to work with him and give him the greatest “bang for his buck.”

Even those who are not all cash, but willing and able to put down at least 40%, are starting to have greater positions of power than ever before in terms of their ability to negotiate. Hordes of friends and acquaintances, who have been waiting for years for it to become a buyer’s market or who are now starting families and know they will be here for the foreseeable future and are cash rich, are now looking to put down firm roots in the city they love.

I doubt there has ever been a time when being cash rich was not extremely helpful in deal making, but in today’s market, it really is king.

Posted By: Warner Lewis

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